Equipment Disposal Policy

When equipment is determined to be no longer needed by a department it may be recycled to another department, stored for future use, or disposed. The procedure for this process is as follows:
  1. The department fills out a "Request for Storage or Equipment Release" form which needs to be signed by the Department Head. The signed form should be sent to the Manager of Operational Services who will determine whether there is another need for the equipment within the University or if the equipment can be disposed.
     
    If there is additional information regarding the disposal (ex. donation to another entity, or sale to another entity) this request should be submitted in memo form addressed to the Vice President for Administration and Finance and attached to the "Request for Storage or Equipment Release" form.
     
    If a sale takes place, it should typically be offered to more than one party. A coordinated effort between the department and Operational Services may be needed to determine the fair market value. The buyer should be notified in writing that the equipment is being sold as is and with no warranty. Sales tax will be charged on the sale unless the buyer can provide a tax exempt letter.
     
  2. If there is a need for the equipment within the University, Operational Services will coordinate the transfer. If the equipment is to be sold, scrapped, or donated, the Operational Services Manager will complete a disposal request form and forward it to Accounting.
     
  3. The Associate Controller will determine the book value remaining on the equipment and submit the request and substantiating information to the Vice President for Administration and Finance for approval.
     
  4. Upon approval from the Vice President for Administration and Finance, Operational Services will coordinate the removal of equipment.
     
    On the day of the sale, Operational Services takes a completed shipper and check to the Student Accounts office to obtain a receipt. All proceeds generated from the sale will be deposited in the University's General Fund (110000-56010).
     
    Operational Services forwards a copy of the shipper and the check to the Fixed Assets Accountant in the Business Office. The Fixed Assets Accountant processes the disposal on BANNER and removes any red tagged items from the inventory.